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The Economy and Globalisation

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by

Laura Jiménez

on 23 May 2015

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Transcript of The Economy and Globalisation

The Economy
Economic systems and the market economy (I)
Economic systems and the market economy (II)
Economic systems and the market economy (II)
Economic systems and the market economy (IV)
The Labour Market
ECONOMIC GOODS
Products:
food, books, computers, clothes, etc.
Services:
transport, education, health, tourism, etc.
FACTORS OF PRODUCTION:
Natural resources:
water, wind, animals, etc.
Human resources:
people and their jobs
Capital resources:
money, machines, buildings, furniture, etc.
Families in the economy
Consume goods and services:
They have an influence in demands and prices. When families
consume, they spend money.
Contribute to the factors of production:
In exchange for their work families receive an
income, which they use to buy goods. The most important income for families are salaries.
Families balance their income and expenses with a budget.

Types of economic systems:
Socialist or planned:

it is based on the property and in a collective administration of the means of production.
Capitalist or market:

it is based on the investment and obtaining benefits. This system is also based on the private property.
Mixed system:
it's a mix between socialist and capitalist systems.
Centralized and interventionist:

is the one in which the factors of production are in the hands of the state and it is the only relevant economic agent.
Communism:
a system in which everything is for everyone. There isn't any private property and the economic administration is controlled by the state.
Businesses
Produce goods and services offered in the market.
Expenses and income
Profit
The state
The state intervenes in the economy in different ways. It offers services and collects taxes.
Workers and human resources
Workers are human resources
Workers are governed by market laws.
Supply:
Willing workers.
Changes in the labour market
Unemployment:
Has increased. Not enough benefits.
ICT:
Has revolutionized companies’ production methods.
Workers:
More qualified because of better education.
Companies:
Can dismiss employees. Workers demand less working hours.
Working conditions:
Safety and salaries have improved
Inequality:
Women are not equal to men.
Project made by Carla, Miguel, Diego and Laura J.
What is the Economy?
What is Globalisation?
The Economy and Globalisation
The market economy: supply and demand
Supply:
the amount that is available of something based on a price.
Demand:
the total amount of goods or services which people want to buy, for a set price.
The globalisation of the economy
Globalisation
In today's world, all countries are interconnected, and form part of an enormous free market system.
Globalisation is the process of global integration.
ICT (internet): allows companies to be in contact to each other.
Expansion of multinationals (companies that work out in several countries). ) Let companies to globalise their products how
Relocation (moving a company to another country) of product centres: and where they want.
Types of trade blocs for economic integration:
Free trade zones
Common markets
Adopt a common economic policy towards other states.
The globalisation of the economy is supported by international organisation, which promote free trade between members.
Questions
­ What economic system corresponds to this definition:
"The
state

controls
the majority of the factors of production and
decides
how the economy must work"?
­ What happens when the
supply
of a product is
high
?
­ Which are the main
communist/socialist
countries?
­ In what groups are the
economic agents
classified in? Explain their definitions.
­ How is the process of
global integration
called?
Answers
Socialist
economy.
The price goes
down
.
Cuba, North Korea
.
Families:
In economics, a family is not necessarily a group of related people; it can consist of one or several people.
Companies:
These are organisations that produce goods and services to obtain financialprofits.
It's called
globalisation.
Full transcript